this count has intermediate 2 at 158.70 on 9/21/22 with a possible 133 price target if all sub intermediate 3 are all equal. i took length of (i) + (iii) and placed on top of (iv) and got 122 at 161.8% ext which clustered
alternative count..... more bullish count in the short term and the final c towards 121
bearish count towards 83 like previous count will provide the alternative count to this
stretched out daily frame (looks ugly imo), but the count remains valid due to the lack of volume we are seeing right now. gives me strong indication that this is a possible wave 2.
completion of a five wave sequence down? maybe? either way, the wave 2 & 4 both look to satisfy the rule of alteration. fib time ext at 161.8% = 11/3/22
possible hard intermediate C wave down toward 562 as support level 1 & 236 as support level 2
alt count to the 3 of 3.....irregular flat possibilities....the sub y/c would bring higher volume ala wave 3.
higher volume raises the probability that a nasty move is on its way. the forex market is also giving signs that the selling is in progress
updated count higher probability that (b) has completed and we will see a final (c) move towards 86 around 11/7/22 i believe is the date
like MSFT it looks to have the same impulse wave down with combination of low volume gives me confidence that w2 is in the works
lower volume yesterday in combination with parallel trend line test on w2 /w4 sets up a higher probability that this is indeed an end of impulse wave. edit: it should be resistance not support
most likeable chart out there right now imo love the 100% of would rule out the possibility of seeing price retrace near mid august highs
from the lows in middle of July 22' it looks like possible five wave sequence...the three of three looks solid. the only thing that I would question would be the retracements of (ii) and (iv).
the count is still in play as iv didn't break the i lows. another count that is the most probable
one count that interests me. who knows, the probability of the irregular flat isn't as low as what one would think. takes out stops and trends bullish
something to think about price action over the course of the next few weeks should make things a little more clear for what direction to trade
bullish alt count as the volume from 616 - 8/16 is a concern for me with its lack of volume. B & X typically are heavy volume. Maybe the Fed doesn't raise rates as much this month as expected, but grows the possibility of a harder bearish move within 2023.
weekly frame shows us where support can ultimately be seen